#Bitcoin Halving Cycles ⏳ 📊 At Day 880, Cycle 4 (red) tracks noticeably flatter than all prior iterations, hovering near the 1.2x ROI baseline. 📍 Past cycles $BTC delivered explosive markup by this stage. Current price action near ~$78K shows institutional absorption replacing traditional retail-driven parabolic runs. 💡 The 4-year supply framework is transitioning into macro liquidity dominance. Muted cycle multiples reflect structural maturation rather than cyclical exhaustion.